Latest Ratios: P/E Ratio -0.6x · EV/EBITDA N/A · ROE -43.1%. (2016–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $55M | $73M | $9M | $9M | $15M | $16M | $50M | — | — | — | — |
| Enterprise Value | $32M | $50M | $-14866703 | $-15935629 | $-1023888 | $-38628190 | $29M | — | — | — | — |
| P/E Ratio → | -0.64 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 12.35 | 16.43 | 0.45 | 0.42 | 3.34 | 0.79 | 3.08 | — | — | — | — |
| P/B Ratio | 0.23 | 0.57 | 0.10 | 0.08 | 0.10 | 0.09 | 0.51 | — | — | — | — |
| P/FCF | — | — | 1.86 | 1.25 | — | — | 168.78 | — | — | — | — |
| P/OCF | — | — | 1.83 | 1.25 | — | — | 157.26 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 11.22 | -0.70 | -0.72 | -0.23 | -1.95 | 1.78 | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | -2.94 | -2.14 | — | — | 97.65 | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 27.9% | 27.9% | 39.5% | 34.0% | 16.7% | 42.9% | 25.6% | 17.7% | 23.8% | 30.0% | 16.9% |
| Operating Margin | -307.8% | -307.8% | -19.5% | -13.0% | -158.2% | -75.7% | -13.5% | -28.6% | -20.8% | -45.6% | -425.8% |
| Net Profit Margin | -1060.5% | -1060.5% | -18.8% | -266.9% | -903.7% | -521.9% | -19.4% | -21.6% | -24.5% | -40.1% | -514.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -43.1% | -43.1% | -3.8% | -44.3% | -25.4% | -77.0% | -5.2% | -20.3% | -15.6% | -15.3% | -29.5% |
| ROA | -40.6% | -40.6% | -3.6% | -42.1% | -24.0% | -70.8% | -4.4% | -12.4% | -9.2% | -7.3% | -11.0% |
| ROIC | -12.0% | -12.0% | -3.9% | -1.9% | -4.3% | -11.7% | -3.2% | -16.4% | -7.1% | -7.8% | -8.9% |
| ROCE | -12.4% | -12.4% | -3.9% | -2.1% | -4.4% | -11.1% | -3.4% | -19.9% | -9.6% | -11.4% | -13.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.03 | 0.01 | 0.01 | 0.01 | 0.04 | 0.26 | 0.36 | 0.49 | 1.17 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | 0.59 | — | — |
| Net Debt / Equity | — | -0.18 | -0.27 | -0.22 | -0.11 | -0.32 | -0.21 | 0.13 | 0.31 | 0.46 | 1.05 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | 0.51 | — | — |
| Debt / FCF | — | — | -4.81 | -3.39 | — | — | -71.12 | 0.49 | 1.14 | — | — |
| Interest Coverage | -895.78 | -895.78 | -34.82 | -506.86 | -24938.29 | -212.10 | — | -17.67 | -11.36 | — | — |
Net cash position: cash ($25M) exceeds total debt ($2M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 7.63 | 7.63 | 10.91 | 6.83 | 29.41 | 10.54 | 9.61 | 1.67 | 1.23 | 0.74 | 0.33 |
| Quick Ratio | 7.63 | 7.63 | 10.91 | 6.83 | 29.40 | 10.54 | 9.60 | 1.66 | 1.20 | 0.73 | 0.33 |
| Cash Ratio | 6.72 | 6.72 | 8.88 | 5.98 | 27.86 | 9.11 | 8.38 | 0.85 | 0.59 | 0.42 | 0.18 |
| Asset Turnover | — | 0.03 | 0.22 | 0.17 | 0.03 | 0.11 | 0.15 | 0.68 | 0.42 | 0.18 | 0.02 |
| Inventory Turnover | 518.41 | 518.41 | 2601.80 | 2621.15 | 106.57 | 238.99 | 134.18 | 171.11 | 78.13 | 117.89 | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | 2.3% | — | 0.5% | 0.2% | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | 53.6% | 80.0% | — | — | 0.6% | — | — | — | — |
| Buyback Yield | 1.8% | 1.4% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 1.8% | 1.4% | 100.0% | 2.3% | 0.0% | 0.5% | 0.2% | — | — | — | — |
| Shares Outstanding | — | $21M | $9M | $9M | $7M | $1M | $417621 | $500050 | $500050 | $500050 | $500050 |
Operational scale and liquidity
According to recent market data, Alset trades at a P/B of 0.23, which suggests that the market is heavily discounting the company's asset base due to the persistent negative FFO and the lack of a clear path toward sustainable profitability in its core real estate operations.
The absence of a meaningful P/FFO multiple reflects the company's inability to generate consistent core earnings. Investors should monitor whether the current discount to book value represents a genuine value opportunity or a reflection of the market's skepticism regarding the long-term viability of the conglomerate business model.
Based on reported financial statements, the NOI margin has shown extreme volatility, ranging from -54.0% to 28.1%, which indicates that the company's property-level profitability is frequently overwhelmed by the high administrative overhead required to manage its disparate biohealth and digital technology business segments.
The lack of consistent NOI growth suggests that the company's real estate segment is not currently achieving the scale necessary to offset corporate-level expenses. This operational inefficiency appears to be a primary driver of the company's negative net margins and warrants further investigation into the cost-allocation methods between segments.
As reported in recent filings, Alset maintains a debt-to-equity ratio of 0.01, which provides a significant buffer against interest rate volatility but also highlights the company's limited reliance on institutional debt to fund its development pipeline compared to more traditional residential real estate developers.
While the minimal debt profile protects the balance sheet from immediate insolvency, it also suggests that the company is not utilizing leverage to accelerate growth. Investors should monitor whether this conservative stance is a strategic choice or a limitation imposed by the company's inability to secure traditional project financing.
The most commonly misapplied metric for Alset is the standard P/E ratio, which fails to account for the significant non-cash charges and the volatility of non-core trading activities that frequently distort the company's reported net income and obscure its true operational performance.
Using P/E to evaluate a REIT-like entity with high depreciation and non-recurring segment gains is deeply misleading. Analysts should instead focus on FFO and AFFO to better understand the company's underlying cash-generating capacity, though even these metrics are currently hampered by the company's persistent negative cash burn.
Includes 30+ ratios · 10 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying AEI stock.
Alset Inc.'s current P/E ratio is -0.6x. This places it at the 50th percentile of its historical range.
Alset Inc.'s return on equity (ROE) is -43.1%. The historical average is -28.0%.
Based on historical data, Alset Inc. is trading at a P/E of -0.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Alset Inc. has 27.9% gross margin and -307.8% operating margin.